Full text of G.19 Consumer Credit : October 7, 1988
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FEDERAL RESERVE statistical release For immediate release October 7, 1988 G.19 CONSUMER INSTALLMENT CREDIT Consumer installment credit outstanding increased $5.4 billion in August, following a $3.6 billion rise in July. The annual rate of growth in August was 10.1 percent — up from the 6.7 percent rate of advance in July. Outstanding automobile and revolving loans grew more rapidly in August than in July. The rate of growth in mobile home loans was unchanged in August while "other" credit advanced somewhat faster. Net change in amount outstanding (millions of dollars) Annual rate of growth (percent) 1988 1988 CHANGE IN CREDIT, BY TYPE (seasonally adjusted) Total Automobile Revolving Mobile home Other Aug.P Aug.P Julyr 5,438 2,286 2,624 3,621 1,106 2,118 8,053 2,836 3,655 10.1 30 498 29 368 149 June 1,413 July June 9.7 6.7 4.7 18.0 14.7 15.2 12.2 25.9 1.4 3.6 1.4 2.7 10.5 1988 TERMS OF CREDIT (not seasonally adjusted) Interest rates 1/ Commercial banks 2/ 48-mo. new-car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies 3/ New-car loan Used-car loan Other terms at auto finance companies 3/ Maturity (months) New-car loan Used-car loan Loan-to-value r a t i o (percent) New-car loan Used-car loan Amount financed (dollars) New-car loan Used-car loan 7.0 1987 Aug. July June May Aug. 10.93 14.81 13.62 17.79 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 10.55 14.40 13.49 17.78 10.37 14.22 13.24 17.85 12.64 15.16 12.44 14.99 12.32 14.83 12.29 14.81 9.63 14.53 56.5 46.8 56.4 46.8 56.3 46.9 56.2 46.9 52.1 45.4 94 98 94 99 94 99 94 99 93 98 11,593 7,918 11,663 7,947 11,626 7,899 11,624 7,778 11,374 7,763 CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/ Millions of dollars except as noted Net change during month Aug.* 1988 S.A. July* 1988 S.A. Outstanding at end of month Aug.* 1988 N.S.A. Aug.* 1988 S.A. Aug.* 1988 N.S.A. Aug. 1987 N.S.A. Change from end of Aug. 1987 Amount Percent 5,438 3,621 8,093 653,431 654,782 599,711 55,071 9.2 4,043 149 412 727 78 29 2,914 -936 557 908 185 -7 4,628 1,140 970 918 309 128 307,232 143,962 85,881 68,909 43,712 3,735 307,245 145,371 86,310 68,957 42,931 3,968 274,086 139,049 80,208 61,854 40,633 3,881 33,159 6,322 6,102 7,103 2,298 87 12.1 4.5 7.6 11.5 5.7 2.2 Automobile Comme rcial banks Finance companies Credit unions Savings institutions 2,286 1,815 -185 400 256 1,106 1,328 -1,004 478 305 n.a. 1,966 574 n.a. n.a. 285,645 120,465 98,711 47,444 19,026 n.a. 121,067 100,014 n.a. n.a. n.a. 106,214 97,592 n.a. n.a. n.a. 14,853 2,422 n.a. n.a. n.a. 14.0 2.5 n.a. n.a. Revolving 7/ Commercial banks Saving8 institutions Retailers Gasoline companies Credit unions 2,624 1,962 358 37 29 239 2,118 1,336 394 144 -7 251 n.a. 1,946 n.a. 255 128 n.a. 177,552 111,607 15,850 37,708 3,735 8,652 n.a. 110,089 n.a. 36,954 3,968 n.a. n.a. 92,895 n.a. 35,008 3,881 n.a. n.a. 17,194 n.a. 1,946 87 n.a. n.a. 18.5 n.a. 5.6 2.2 n.a. Mobile home Commercial banks Finance companies Saving8 institutions 30 -22 -49 102 29 -21 -77 127 n.a. 14 -44 n.a. 25,912 8,890 7,387 9,634 n.a. 8,957 7,414 n.a. n.a. 9,225 8,310 n.a. n.a. -268 -896 n.a. n.a. -2.9 -10.8 n.a. Other Commercial banks Finance companies Credit unions Savings institutions Retailers 498 289 384 -227 11 40 368 272 145 -172 83 40 n.a. 702 610 n.a. n.a. 54 164,322 66,270 37,863 29,785 24,399 6,004 n.a. 67,132 37,943 n.a. n.a. 5,977 n.a. 65,752 33,147 n.a. n.a. 5,625 n.a. 1,380 4,796 n.a. n.a. 352 n.a. 2.1 14.5 n.a. n.a. 6.3 Total Major holder Commercial banks Finance companies 5/ Credit unions Savings institutions Retailers Gasoline companies Major credit type 6/ 1. Interest rates are annual percentage rates as specified by Regulation Z. 2. Commercial bank data are simple unweighted averages of each bank's "most commmon" rate charged during the first calendar week of the month. 3. Finance company data from the subsidiaries of the three major U.S. automobile manufacturers are volume-weighted averages covering all loans of each type purchased during the month. 4. The Board'8 series on amounts of credit covers most short- and intermediate-term credit extended to individuals that is scheduled to be repaid (or has the option of repayment) in two or more installments, excluding loans secured by real estate. Includes outstanding balances on some securitized consumer loans originated by financial institutions. 5. More detail for finance companies is available in the G.20 Statistical Release, Finance Companies. 6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these cases, the seasonally adjusted total for the holder group has been allocated among the components using the latest available benchmark information. 7. Excludes 30-day charge credit held by travel and entertainment companies. n.a.* Data not available. S.A.** Seasonally adjusted, r • revised. p « preliminary. ff.S.A." Not seasonally adjusted. The G.19 Statistical Release is issued around the fifth working day of each month. The exact date and time may be obtained by calling (202) 452-3206.
